A closely followed analyst says one altcoin flying under the radar may be trading well below its fair value.
Pseudonymous analyst Inmortal tells his 214,300 followers on the social media platform X that he’s long-term bullish on Mythos (MYTH).
Mythos is a multi-chain ecosystem that aims to democratize gaming for creators and players.
According to Inmortal, Mythos is undervalued based on its strong fundamentals.
“1. [Mythical Games] is the only company ever to get an NFT (non-fungible token) marketplace approved by the App Store
2. They have partnered with Pudgy Penguins. In case you have been living in a cave for the last few months it is the most respected NFT now.
3. GameFi is next to AI (artificial intelligence): the most powerful narratives of the cycle. That’s no surprise. Gaming makes $100 billion in revenue annually…
For me who wants to have a portion of my portfolio in one of the strongest narratives this cycle, MYTH is a good choice, to be honest.”
Looking at the chart of MYTH, Inmortal says the altcoin is flashing multiple bullish signals.
“About the chart.
> Consecutive higher lows
> Price above 200MA (moving average)
> Deviation setup with 200MA.”
MYTH, the 273rd largest crypto by market cap, is trading at $0.438 at time of writing.
Turning to memecoin Floki (FLOKI), Inmortal sees the altcoin breaking out and rallying to a fresh all-time high of $0.0006.
“Since the beginning of 2024, I have been saying that FLOKI would lead memecoins this cycle, and it is happening. Be ready for acceleration.”
At time of writing, FLOKI is worth $0.000281.
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Generated Image: Midjourney